Ajman: Rent of warehouses on the rise

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Real estate specialists in the Emirate of Ajman said that rent of warehouses has risen by 10% -15% in value terms since the beginning of the current year, while the demand in this sector surpassed the offer by far. All in all, the number of rented warehouses rose by 10%, reported Al-Khalij daily (June 2, 2005).

The hike in renting fees of commercial warehouses is affected by the rise in rental fees of apartments, while construction of commercial warehouses is limited compared to the construction of housing units and commercial outlests.

The annual value of renting commercial warehouse ranges between 16,000 and 26,000 Emirate Dirhams ($4355-$7077). Sources in Ajman expect this sector to remain active during the current year, due to the on-going construction projects.